FT. LAUDERDALE, FL / ACCESSWIRE / December 23, 2019 / PotNetwork Holdings, Inc. (OTC PINK:POTN) ("the Company"), has filed with the Securities and Exchange Commission its third quarter results through the end of September 2019.
For the 9-months ending September 30, 2019, the Company reported total sales of approximately $14.1 million. Previously, revenues for the 6-months ended June 30th had exceeded $10.5 million.
"With market conditions, we have become more aggressive in our pricing and developing an expanded product line and distribution footprint for the future, while simultaneously becoming more vigilant about our costs," said Kevin Hagen, CEO of PotNetwork Holdings, Inc. "Throughout the 3rd quarter, we reduced operating expenses to streamline business operation. Separately, it is important to note that because of public concern about vaping, mid-year we also began the wind down of sales of our vape product line (none of which contains vitamin E acetate) which affected sales results."
About PotNetwork Holdings, Inc.: PotNetwork Holdings, Inc., a publicly-traded, fully-reporting SEC company, trades its common stock on the OTC market under the symbol: POTN. The Company, a holding company, has as its principal subsidiaries, First Capital Venture Co., the owner of Diamond CBD, the maker of Diamond CBD products, and PotNetwork Media Group, Inc., the publisher of PotNetwork News and PotNetwork Magazine (PotNetwork.com). For more information, please visit, www.potnetworkholding.com.
About Diamond CBD, Inc.: Diamond CBD focuses on the research, development, and multinational marketing of premium hemp extracts that contain a broad range of cannabinoids and natural hemp derivatives. Diamond CBD's team consists of hemp industry pioneers and natural product experts, chemists, doctors and scientists, dedicated to producing the finest and purest cannabidiol (CBD) oils. The result is a robust selection considered among the most powerful natural CBD oils, tinctures, edibles, and vape liquids found anywhere. For more information, please visit its website at www.DiamondCBD.com.
Safe Harbor: Forward-Looking Statements are included within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, including words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and similar expressions are forward-looking statements and involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. We are under no obligation to (and expressly disclaim any such obligation to) update or alter forward-looking statements, whether as a result of new information, future events or otherwise.
Contact:
PotNetwork Holding, Inc.
1-800-915-3060
investor@PotNetworkHolding.com
SOURCE: PotNetwork Holding, Inc.
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